The Core Fixed Income Portfolio
HC Capital Trust · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
The Core Fixed Income Portfolio is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q1
The investment objective of The Core Fixed Income Portfolio is to provide a high level of current income consistent with the preservation of capital.
The fund invests at least 80% of assets in fixed income securities rated in the four highest categories by major rating agencies, typically investment-grade corporate bonds, government securities, mortgage-backed securities, and municipal bonds, with maturities aligned to the Bloomberg U.S. Aggregate Bond Index range. The fund may allocate up to 20% to high yield securities and employs multiple specialist managers to provide diversified investment styles. The fund writes covered call and put options on securities and indexes to generate additional income, with initial maturities up to nine months.
| Share class | Expense ratio |
|---|---|
| HCIIX | 0.30% |
Portfolio turnover 44.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 51.19% |
| Other | 26.58% |
| Cash & short-term | 11.34% |
| Securitized | 10.93% |
| Derivatives | 0.15% |
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Government | 37.5% |
| Other | 28.7% |
| Cash | 11.3% |
| Securitized | 10.9% |
| 12 smaller | 11.6% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: United States of America ×7, WELLS FARGO & COMPANY
Largest exited: United States of America ×6, WELLS FARGO & COMPANY, BANK OF AMERICA CORPORATION
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 98.9% |
| Floating rate | 1.1% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.4% |
| 1-3y | 22.8% |
| 3-5y | 18.2% |
| 5-10y | 21.9% |
| 10y+ | 35.6% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying a small fraction as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 76% |
| Credit spreads | 24% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.43 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 0.44 yr | 10% |
| 5 yr | 1.39 yr | 31% |
| 10 yr | 1.74 yr | 39% |
| 30 yr | 0.88 yr | 20% |
3 mo is NEGATIVE (-0.02 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.12 yr | 8% |
| 5 yr | 0.44 yr | 31% |
| 10 yr | 0.62 yr | 43% |
| 30 yr | 0.25 yr | 18% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | -0.02 | +0.00 | +0.00 | $1.0k | $0 |
| 1 yr | +0.44 | +0.12 | +0.00 | $24.6k | $0 |
| 5 yr | +1.39 | +0.44 | +0.00 | $92.9k | $0 |
| 10 yr | +1.74 | +0.62 | +0.00 | $130.2k | $0 |
| 30 yr | +0.88 | +0.25 | +0.00 | $53.1k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | iShares US Treasury Bond ETF | 14.38% | $304.39M | — |
| — | Vanguard Intermediate Term Treasury ETF | 12.13% | $256.82M | — |
| TPLXX | State Street Institutional Investment Trust: State Street Institutional Treasury Plus Money Market Fund; TrustTPLXX | 6.44% | $136.37M | — |
| — | SS INST TREAS PLUS MM FUN | 4.83% | $102.16M | — |
| — | United States of America4.00% · due 2035-11-15 | 0.35% | $7.50M | — |
| — | BANK OF AMERICA CORPORATION5.51% · due 2036-01-24 | 0.34% | $7.25M | — |
| — | United States of America3.38% · due 2033-05-15 | 0.34% | $7.15M | — |
| — | United States of America4.13% · due 2036-02-15 | 0.34% | $7.09M | — |
| — | United States of America3.88% · due 2033-08-15 | 0.33% | $7.07M | — |
| — | United States of America4.25% · due 2035-08-15 | 0.33% | $7.03M | — |
Top 10 positions are 39.82% of net assets, top 25 44.01%, across 178 issuers.
See more of this fund's book
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